Enterprise AI Software Rebound Spurred by Salesforce-Anthropic Tie-Up
Salesforce's recent tie-up with Anthropic has put enterprise AI software back on investors' radar. This partnership has shown how quickly the shift from buzzword to daily workflow is happening, particularly in sales teams and CRM budgets.
As a result, stocks exposed to this AI software story are gaining attention, including Five9 (FIVN), Amdocs (DOX), and Klaviyo (KVYO). These companies provide cloud-based software that leverages AI agents, agent assist tools, and workflow automation to handle customer interactions across various channels.
Five9's Genius AI suite is deeply integrated with Salesforce and other large platforms. The company has been recognized as a Leader in agentic contact center platforms and carries a market cap of $2.4 billion. However, it also faces execution and competition risks, including leadership transitions, funding structure considerations, and pressure from bigger software vendors.
Amdocs provides large-scale software and cloud services to telecom and media providers, embedding AI directly into mission-critical workflows. The company has a market cap of $6.5 billion and is described as undervalued on cash flow and earnings estimates. It relies heavily on external borrowings for funding and must execute on AI projects and cloud migrations.
Klaviyo offers exposure to AI-driven personalization in marketing and customer service, using a single data platform that merchants rely on to reach their customers. The company has reported strong interest in its AI agents and is expanding into mid-market and enterprise accounts, but faces execution risk from SMS and infrastructure costs, intense competition, and dependence on partner ecosystems.